I really don't think the solution is ugly shitboxes.
I mean, sure, horrendously ugly square soviet-style boxes are much cheaper to build.
And it's not difficult to increase the square meter size of apartments. The current minimum for one bed apartments in Ireland is 37m2.
A reduction in the minimum size of studio apartments is among the measures that Cabinet will consider next week to encourage developers to build more apartments.
www.rte.ie
Ireland fundamentally is not lacking space and I seriously doubt the issue is the materials costs of buildings.
People are far, far less likely to object to buildings if they actually look nice. Modern looking concrete+steel+glass buildings generally look terrible (there are exceptions), they're usually only built that way cause they're cheap.
I would suggest that is not a good long term trade off, soviet blocks and 60s council housing estates housed loads of people cheaply, but with the aesthetics of a burnt out skip. That's a cost to society that lasts, but at least the developers made a few percent more profit so tis grand...